No. CS/SB 856
Filed under Taxes & Budget.
Disclosure of Estimated Ad Valorem Taxes; Defining the terms “listing platform” and “property”; requiring that certain property listings include estimated ad valorem taxes; requiring the Department of Revenue to maintain on its website a table of links to each county’s property appraiser’s homepage and tax estimator; requiring the department to develop a formula that may be used by listing platforms to calculate the estimated ad valorem taxes; requiring the department to annually develop a countywide aggregate average millage rate for each county for use by listing platforms, etc.
Plain English Summary
AI-GENERATEDOnline platforms must now display estimated ad valorem taxes for every residential property listing in Florida. This requirement applies to websites, web apps, and mobile apps, but excludes social media platforms.
Platforms must calculate estimates using the listing price and current millage rates. They are strictly prohibited from using the current owner's actual tax bill to generate these forward-looking estimates.
The Department of Revenue must publish a calculation formula and countywide average millage rates annually. These tools allow platforms to meet the new disclosure requirements without relying on individual property tax histories.
Platforms are protected from lawsuits if their tax estimates are inaccurate. This immunity applies to any person involved in the estimation process, provided the required disclaimers are displayed alongside the figures.
AIRequires all residential property listings on public-facing online platforms to display estimated ad valorem taxes calculated using state-approved methods.
AIForbids using the current owner's ad valorem assessment or taxes to calculate the estimated taxes for a prospective purchaser.
AIRequires listing platforms to display specific disclaimers about millage rate variations and link to the county property appraiser's tax estimator or homepage.
AIRequires the Department of Revenue to develop and annually publish a tax calculation formula and countywide average millage rates for use by listing platforms.
AIPrevents lawsuits or liability claims against any person for providing an inaccurate estimation of ad valorem taxes on a property listing.